VanEd Newslog

Our top story picks this week include good news from the FHA, appraisal opinions and speed traps

While many were at the Midyear meetings and others were taking care of graduation parties and other events leading up to Memorial Day Weekend (yes, that's this coming weekend) there was still some news that happened. Here are some recent stories that we found interesting;

Verizon caught our eye when it announced that it was moving to end unlimited data plans. As people move to the 4G network they will need to select a tiered plan to join. We aren't sure how many people in the industry will be affected by this but with the explosion of mobile tools in real estate this is sure to become something we all need to pay attention to.

REEA, The Real Estate Educators Association, announced that the cancelled 2012 annual conference was rescheduled for August 10-13 and will be held in Kentucky on the campus of Morehead State University. This is good news for educators and the recent webinar hosted by REEA also showed how the organization was moving forward. Great job by the current BOD. Exciting things are ahead, instructors can learn more at http://REEA.org.

Have you seen Trapster yet? find speed traps, photo radar and even road closures with this app. Available for Android, iPhones and even Blackberry this app uses crowd sourcing for something positive: fewer tickets! http://www.trapster.com/ (Since over 15 million people have this app already maybe it was just us that missed it...)

Built in 1592, The Crooked House of Windsor has a long and colorful history. We enjoyed the photos of the house as well as the story. http://bit.ly/KhISfm

The Federal Housing Administration (FHA) announced that they would be changing lending policies relating to condominiums. This is good news as the current restrictions, originally implemented before 2010, seem to be limiting the availability of affordable financing for many projects and first time homebuyers. The ... interesting? ... news was that there was no time line announced for the changes, just that they would be "very, very soon".

This wasn't the only news from the FHA recently as they also announced that the National Servicing Center (NSC) would begin offering Preforeclosure Program (PFS) Training for Real Estate Professionals. Learn more about these regional events online here - http://bit.ly/J4XjHb.

One important study we saw (and took a great interest in) finds that drinking coffee can extend your life. Read more online at http://bit.ly/L3uMO8.

And appraisers recently got a look at the Appraisal Practices Boards (APB) Valuation Advisory #3: Residential Appraising in a Declining Market http://bit.ly/IYWP1I.  

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Post Midyear & Summer events that will help boost your business

If you have the time this busy summer these events top our list of 'things to do'. Don't forget to contact us to see where we will be and find out how to connect with us while you're there!

After the successful NAR Midyear legislative meetings and expo (held May 15th - 19th) it's not too soon to start planning for any and/or all of the following events;

 

Looking for some sort of Quasi-Governmental run webinar training on short sales? We know you are! The FHA’s National Servicing Center (NSC) is pleased to announce the Preforeclosure Program (PFS) Webinar Training for Real Estate Professionals. The training is being offered on a regional basis to offer more local and regional assistance, so check online to see when your regional training is being offered http://bit.ly/J4XjHb. 

Agent reboot - June 6th in Portland, OR is the next agent reboot (from Inman News) Learn all about mobile, video, blogs and gadgets that can help boost your business and increase productivity. The program travels to Oklahoma City in September as well. http://www.agentreboot.com/

Mortgage Tech Summit: Denver - On June 7th & 8th Join mortgage and real estate professionals from around the state as they focus on lead generation, efficiency and marketing tools. Apps and utilities too. Don't miss out on what is certain to be the top mortgage marketing event of the year in Colorado. http://MortgageTechSummit.com for more information.

AFIRE - Awesome Females in Real Estate - Join 100 of the most talented and inspiring women leaders at the 6th Annual Awesome Females in Real Estate Conference in Scottsdale, Arizona June 20th - 22nd. Learn more and register at http://realestatecoach.com/afire/.

Looking for some appraisal information in July? Then don't miss the public meeting of the ASB: Appraisal Standards Board on Friday, July 13th in Denver. Register online at http://bit.ly/JfCnwn  

The Aspen Board of REALTORS® is hosting two VanEd continuing education classes on July - Ethics for REALTORS® and the CREC Annual Update Course are both scheduled for July 26th in Aspen. Visit http://VanEd.com/Aspen for details and to register for one or both of these live classes.

Inman Connect - San Francisco - Held August 1st - 3rd this year the connect conference will blow you away with new information and innovations that can immediately help feed the techie in you - http://www.realestateconnect.com/ (note: agent reboot will be held in San Francisco on July 31st)

Instructors can close out a great summer by gathering and the recently announced REEA 2012 Conference, "Phoenix Rising: The New REEA Experience" on the campus of Morehead State University August 10th - 13th. This event is sure to be better than expected with announcements on the DREI program and the new REEA structure happening at a rapid pace. Find out more online at http://www.REEA.org.  

With so much going on in the real estate, mortgage and appraisal industries it is more important than ever to stay up to date on rules and technology. Have an event scheduled that we missed here? Let us know! email us at info@vaned.com and we will be happy to look at it! And don't forget to follow any of our social media channels to stay current on all of the conferences and events!

 

What we're reading: Internet Privacy tops our list this week

Don't be Evil, but Don't miss the train - This New York Times article sparked our interest as Google (among others) are both investigated and maligned for their internet security practices. What qualifies as a "best practice" in the online world may not be what the users think it should be. http://nyti.ms/HWvb4U 

There was a case that caught our attention where Bid Rigging in Foreclosure Auctions drew USDOJ charges that led to a plea deal in Alabama. The buyers wouldn't bid against each other but instead designate who would buy the property and then the group would have a second, secret auction later. This is illegal, so don't try this at home.  http://1.usa.gov/IzwBDj 

On a more entertaining note we enjoyed the story of the colossal cat on the Today show - check out this 39 pound kitty (which would equate to a 600 pound person) and see how sweet he was!  

There were also a few items of interest for instructors as we found articles on Ways to use Facebook effectively in class and Seven ways to wake the dead and inspire action with PowerPoint. If you're an instructor take a look at those quick reads for a few good tips.

 

And lastly, while staying on our instruction theme, we're at the Texas Real Estate Teachers Association (TRETA) Annual Conference this week in Fort Worth, Texas at the Historic Stockyards. There is a fantastic lineup of speakers including regulators and industry executives from all over Texas. Visit www.TRETA.org for more information or to see the schedule and we'll post any excellent updates that come from the conference.

 

Connect with us on any of our other social networks below to stay up on all that things social!

Our favorite stories this week include angry chefs, green property valuation and low appraisals, sooo.... hold the blowfish?

Here are our favorite stories from this week, as reported by the VanEd staff, students and industry sources. It's probably no surprise that food, green building and a story about a low appraisal all made the list. We're diverse like that. :)

Did you know that Old Buildings can learn New Tricks? An article on the Sustainable Business Oregon website says yes. In her article, Caitlin Powell notes a study showing that by renovating an older warehouse (or potentially a mall?) and using 6 to 8 percent fewer resources than on demolition and new construction, contributions to climate change can be reduced by as much as 9 percent. Other stats are even more impressive.

Read more --> http://www.sustainablebusinessoregon.com/columns/2012/04/old-buildings-can-learn-new-tricks.html?ed=2012-04-03&s=article_du&ana=e_sbo

 

You know it is still an interesting market when the Past President of the Appraisal Institute, a Tennessee Real Estate Broker, loses a deal over a low appraisal and then gets an article on CNN Money. Read the article and then decide: Are banks sending messages to appraisers to keep valuations low?  http://cnnmon.ie/HcdwZ7

Don't think the appraisers are just one sided, though. They're still working on Green features as they ask If Energy upgrades add value to existing homes? The appraisers discuss this in an Appriasal Scoop post.    http://bit.ly/GTtZOf

Appraisers also have to deal with the Uniform Collateral Data Portal® (UCDP®), a single portal for the electronic submission of appraisal data files to Freddie Mac and Fannie Mae that facilitates the electronic collection of appraisal report data. Appraisal report forms for all conventional mortgages delivered to Freddie Mac on or after March 19, 2012, must be submitted to the UCDP. For more info visit http://www.freddiemac.com/sell/secmktg/uniform_collateral_data_portal.html. 

 

Ever ask what happens to all the hats that land on the ice after a hat-trick in hockey? We didn't until the Colorado Avalanche put the question to those who pick them up in this online video: http://video.avalanche.nhl.com/videocenter/console?catid=1027&id=103305 (and hey, now we know!) 

 

And what is with the regulators in Tokyo? The deadly poisonous Blowfish can kill you with a look (ok, an eye....seriously, the eyes, heart, liver... all more deadly than cyanide!). And now food regulators are easing restrictions for those who want to cook these deadly delicacies. Seems to us tha loosening standards for chefs who specialize in blowfish seems like adding risk to an already "fishy" proposition. 

See what we mean in this Rueters article: http://www.reuters.com/article/2012/04/03/us-japan-blowfish-idUSBRE83202P20120403

These stories and many more were or are available on one of our social network sites listed below. Please join us there!

Be aware of asbestos issues in older properties

As a new homeowner or potential seller, it is not likely that you are acquainted with the inner materials of a home. However, most buyers seek an updated home inspection before closing on a new property. It is important to reassure buyers that the home is safe and does not contain any potential health hazards. These inspections are critical to clearing hurdles down the road that may slow the sale of property.

One of the most common surprises new homeowners and sellers confront is asbestos in older structures. Indeed, asbestos containing materials (ACMs) are now banned for use in the United States but many older buildings still contain these products, which are generally safe, but homeowners should be aware of where they and when they become hazardous.

Asbestos was included in thousands of construction products and still exists in nearly 80% of homes built prior to 1978. Common asbestos materials include attic insulation, ceiling tiles, and pipe lining. Asbestos was particularly adept at insulation and prevention of temperature transfer and was used extensively until adverse health effects began to manifest in those who worked with the material frequently.

It is only when asbestos containing materials are compromised or very old that they become hazardous. Asbestos products under these conditions are rendered “friable.” Home inspection companies should be able to identify these circumstances and advise you on a course of action. When asbestos material is friable, asbestos fibers can be released into the air, potentially endangering those in the area.
Inhaled asbestos fibers lodge in the body’s inner tissue and have been conclusively linked to the rare cancer, mesothelioma in addition to many other respiratory disorders. There are few options for mesothelioma treatment or curative therapies for other conditions caused by sustained asbestos exposures. Homeowners need to be aware of potential hazards that may exist so they may be able to avoid potentially harmful effects of hazardous asbestos.

Again, most asbestos containing materials will not pose an immediate hazard and an informed buyer will not be turned off by their presence if they’re reassured of their safety by a professional opinion. These simple precautions can be taken to assure that both sides know that they and their families will be happy and healthy in their new home.

Information courtesty of the Mesothelioma & Asbestos Awareness Center - Online at http://www.maacenter.org. Learn more about Environmental Hazards Screening by taking the online course - available through VanEd. Click here for more information on this MRE course.

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Instruction, Real Estate, Appraisal and Beer top our reading lists this week

The following were the eye catching stories that... well... caught our eyes this past week.

Instructors and presenters should be always looking to improve their skill set. This article in the Denver Business Journal might just help do that. Take a look at "How to get the most out of your PowerPoint presentation" and see if you agree.

The Wall Street Journal posted an article on the upswing in Manufactured Housing. The article correctly discussed the still commonly held view that manufactured = trailer home, but that just is not the case. We were struck by the uptick in stocks for the builders in this market. Is now a good time to bring this idea to your buyers? Maybe. Take a look at "Manufactured Housing under Renovation" to learn more.

As tax season is in full swing we passed around an article on record keeping. Bank of the West published a quick guide on "How Long to keep Financial Records" which, as it turned out, taught one team member that it was ok to discard cable bills.

Just in time for Spring the Appraisal Practices Board (or APB if you needed to add another real estate achronym to your vocabulary list) put out a notice, and our tweet hashtags say exactly how we feel about it;

Appraisal Practices Board (APB) http://bit.ly/GK0EJH Solicitation for Subject Matter Experts (SMEs): Valuation of Green Buildings  #abouttime #green

Our team also found interesting a story from Bloomberg on the fight to save light beer. While that normally would not have much to do with business, this story has everything to do with changing marketing concepts to fit current times. Being able to update a plan to the current end-user is critical in any industry. With a new type of real estate consumer, and an ever changing real estate market, real estate professionals may find this type of shift interesting as they try to create new marketing plans or update older ones. Check out "Light Beer fights for Life as craft brews invade shelves" and see what we mean.

And maybe the most important update came from our own guest author, Randy Kelly, who helped us understand the new "FHA MIP Changes" in his recent Finance Friday post. Not sure we appreciate the increased rates and fees on the Mortgage Insurance Premiums for these types of loans, but at least now we understand what they will be.

These stories and many more were or are available on one of our social network sites listed below. Please join us there!

(Rewind) Appraisers discuss Green building and Value

We originally posted this in December of 2011 - with recent commentary from Home Builders and recent articles regarding this issue being published we thought it was a good time for a Rewind.

During the Fall meetings of the Appraisal Foundation Advisory Council (TAFAC) a session was filmed that discussed Green Building and what issues are raised when it comes time to determine the value of Green.

Appraisers in many cases have trouble placing a value on individual green products and features, but where will the market lead? What is going on now? Watch the video linked below from The Appraisal Foundation to hear what the panelists think. The presentation is titled "High Performance Green Building: What's it Worth? A Discussion..."

Click Here to play video

Plethora of events and conferences in the Real Estate and Appraisal Industries run now through April

'Tis the season when many events and conferences take place. VanEd will be at many of the listed events below, and our partners and affiliates will be attending many others. If you have an event or conference that you would like support with please contact us at info@vaned.com. We'll be happy to look into it! 

The Association Executives get this years conference season off and running when they invade Louisville, Kentucky this week - March 16th - 20th. The Association Executives Institute conference, aptly titled 'The Triple Crown: It all starts here', will put a full slate of development and education in front of our association leaders. Not able to attend? Follow along with the hashtag #AEI2012 (or check out the live stream below) Learn more --> http://www.realtor.org/association_executives/aei/homepage 

In case you missed it, The RLI Land Conference is set for March 26-28. The 2012 National Land Conference, "Colorado Rocks,” is taking place in Denver, March 26-28. The event offers land professionals an opportunity to learn the latest issues, network, build bonds, and do deals. Access the brochure. Register by calling 800/441-5263 (LAND). More online at http://www.rliland.com/NationalLandConference.aspx 

 

Nebraska REALTORS® Association 95th Annual Conference and Expo ~ Get in the Game
The 95th Annual Convention & Exhibition will be held April 2nd - 4th at the Embassy Suites Hotel in La Vista, NE. Don't miss out on one of the great annual conferences anywhere. More online at http://www.nebraskarealtors.com/i4a/pages/index.cfm?pageid=3494

 

ARELLO - The Association of Real Estate License Law Officials head to Austin, Texas April 11th - 14th for their Mid-Year meetings. VanEd will again be in attendance at the meetings and will report back once they have concluded. Visit http://www.arello.org for more information.

 

The Colorado Association of REALTORS® will hold their Spring meetings in Vail, Colorado from April 10th - 12th. Info is online at http://coloradorealtors.com/car_events_main.asp?EventID=Spring2012

 

Are you an Instructor looking to attend the best real estate instructional gathering in the country? May we suggest you attend the RAPDD Summit in Wichita, Kansas April 11th - 13th. This annual event has emerged as a learning mecca for instructors and a key meeting for Association Professional Development Directors from across the country. Find out more at http://RAPDD.com  

 

Not to be out done, ARRO, The Association of Appraiser Regulatory Officials close out our month of mayhem with their Mid-Year meetings in Chicago, Illinois. Look for lots of discussion on AMC's at this years meetings. http://www.aaro.net/ for more details and the agenda.

 

And one final note:  Congratulations to our Prize Drawing winners from last months REALTOR® Rally recently held in Denver -

• Stacey Martindale, Gateway Realty in Brush, Colorado
• Mike Haywood, Haywood & Associates Metro Brokers

Thanks for stopping by our booth at the Rally! We look forward to seeing you online soon!

Please join us on one of the social networks listed below. Interested in a career in Appraisal or Real Estate? Take a look online at our current special promotions and pricing by visiting us at http://vaned.com. 

The Appraisal Practices Board (APB) has adopted “APB Valuation Advisory #2: Adjusting Comparable Sales for Seller Concessions.”

The following news release was issued March 13th by The Appraisal Foundation.

Washington, DC — The Appraisal Foundation is pleased to announce that its Appraisal Practices Board (APB) has adopted “APB Valuation Advisory #2: Adjusting Comparable Sales for Seller Concessions.” The APB is an independent Board of The Appraisal Foundation, which is responsible for developing voluntary guidance on recognized valuation methods and techniques. 

 

The APB commenced the process of developing this guidance in February 2011, by creating a scope of work for the project and soliciting industry-recognized Subject Matter Experts (SMEs), who researched and compiled applicable texts, journals, articles, coursework and other materials pertinent to this topic. The SMEs, along with assigned APB Board member liaisons, developed a draft of their work product for the APB’s review. After working with the SMEs to address any questions or issues, the APB issued its First Exposure Draft on this topic on October 3, 2011, and accepted public comments through December 2, 2011, and at its public meeting in Atlanta on December 12, 2011.

 

After considering all of the comments received, the APB again worked with the SMEs to address some of the issues raised in the public comments. The APB subsequently issued a Second Exposure Draft on January 26, 2012, and accepted comments through February 29, 2012. After considering all of the comments received, the APB adopted the Second Exposure Draft, subject to minor administrative edits, on March 7, 2012.

 

APB Valuation Advisory #2: Adjusting Comparable Sales for Seller Concessions, includes guidance on:

 

• Verifying Concessions
• When Does an Appraiser Adjust For Concessions?
• Methodology
• Concessions and Non-residential Property (other than 1-4 unit properties)
• Impact and Application of Concessions in the Cost Approach and Income Approach

APB Chair Gary Taylor stated, “We believe this guidance can be helpful to a large number of appraisers who may not have a great deal of education or exposure to recognized methodologies in addressing concessions.” Taylor added “This guidance, combined with another topic the APB is currently working on, Residential Appraising in a Declining Market, are thought to be timely based on the housing markets in many parts of the country today.”

 

To view a copy of the APB Valuation Advisory #2: Adjusting Comparable Sales for Seller Concessions, please visit the following link on the Foundation web site: https://appraisalfoundation.sharefile.com/d/s54c9756b83f43f5a.

Any questions on APB Valuation Advisory #2: Adjusting Comparable Sales for Seller Concessions or the work of the Appraisal Practices Board can be directed to Staci Steward, Practices Administrator at 202.624.3052.

If you have comments or questions about this opinion you are also encouraged to ask us on one of the social networks listed below. Interested in a career in Appraisal? Take a look online at http://vaned.com.

 

 

Appraiser Qualifications Board (AQB) adopts changes to Licensing Qualification Criteria

While normally three years notice of changes wouldn't be cause for urgency, the recent adoption of the Real Property Appraiser Qualification Criteria may create just that for those who are thinking of upgrading their license or their level of authority. Granted you will have until January 1st, 2015 before the changes to the Criteria go into effect, but if you are a trainee and are working towards becoming a Certified General, take notice.

At it's December meeting the Appraiser Qualifications Board, or AQB, approved changes that will affect background checks (implemented and recommended at all levels), require additional trainee level coursework (supervisors get more education as well) and the education side of the criteria as college courses will now need to be reviewed by the AQB in order to be permitted. Other changes to the education profile include rules governing continuing education courses and new available CE topics. The new qualification summary can be found here: Download AQB Summary of Changes 2015 

VanEd suggests that if you are planning on relocating or changing credential status after January 1st, 2015 you verify with your state agency the rules and regulations you will be required to comply with. Keep in mind that most states will not have updated their own rules or regulations until sometime later in 2012 in order to maintain compliance with the AQB's rules. It is also important to note that State Regulatory Agencies may determine that they will implement the criteria prior to the January 1st, 2015 deadline set for implementation by the AQB.

The most successful people in real estate choose VanEd. To learn more about the family of courses offered by VanEd, visit us online at http://www.vaned.com. And for up to the minute industry information or to receive special promotions and discount offers, connect with us online at any of our other social networks listed below!